Test Rite has been, little by little, preparing for adversity every day, and it is when the challenges come that we truly stand out.
Since early 2020, companies around the world have been forced to face adversity. Indeed, many established businesses have been unable to adapt to the impact of COVID-19 and have become defunct. Though the pandemic may be the last straw to these companies’ demise, whether a business can operate sustainability is never determined by a single crisis. The key to success lies in the formulation of sustainable operating strategies and fostering of a sustainable organizational culture.
Since its establishment in 1978, Test Rite has always taken a diligent and pragmatic stance in its pursuit of sustainability. We take caution in our every step and focus our energy on our main lines of business without making impetuous decisions. At the same time, we never shy away from diversifying our investment portfolio across the globe. Talent is something we always attach great importance to. In terms of investing in talent recruitment/retainment and innovation, it is my belief that without a wide array of outstanding employees, we will not be able to grow our business in any meaningful manner. By the same token, we are committed to investing in basic infrastructure and making every little thing count. By making one small but steady step after another, Test Rite has built a solid foundation in terms of its operational efficiency, business capacity, and financial conditions in the past 40+ years, allowing or to face whatever disruptions and challenges that may come our way with 100% readiness.
Of course, besides our own hard work, Test Rite’s success is due in large part to the resources and support provided by society. We are thankful for all our partners in the industry, who provide us with a chance to grow. We would also like to thank our customers from every corner of the world, willing to trust us with all their home-related needs. We have been blessed by the help of so many that we vow to cherish these gifts and pay them forward. We promise to treat others with integrity, do everything out of altruism, and care for our land without being blinded by short-term commercial benefits. These beliefs are deeply ingrained into Test Rite’s DNA and corporate culture and shall remain there for generations to come.
Nevertheless, one can never tell the resilience of a company on a fair day. It is when adversity arises that the power of a resilient corporate culture shines through. And in the face of the 2020 global pandemic, we can truly feel what benefits sustainable culture and strategies can bring to the table for Test Rite as a business. In stark contrast to many veteran corporate giants who, unfortunately, have left the market, Test Rite saw record-high revenues of NT $43.76 billion in 2021. Our growth is a testament to the belief that high ESG equals high EPS (earnings per share).
In fact, Test Rite has been preparing for adversity throughout every day of its existence. In the 40+ years since our establishment, we have weathered such challenges as the appreciation of the New Taiwan Dollar, industrial offshoring, multiple financial crises, the China-US trade war, as well as the current global pandemic that we are experiencing now. However, each of these challenges has only made Test Rite better and stronger.
Test Rite’s performance has also been highly regarded by the Board of Directors. Board members praised the company for its information transparency, management robustness, and team accountability. We have sculpted a corporate culture of sustainability, which is why we are confident that the road ahead will be a robust and sustainable one.
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